The global socks market was valued at USD 5.6 billion in 2014, expected to increase at a CAGR of 8.5% from 2015 to 2023. Although an integral part of the apparel industry, the socks market holds a negligible part in the market dynamics of the apparel industry. The lower share of the socks market in the backdrop of the apparel industry can be attributed to low volume and large percentage of the market being unorganized. However, taking the market growth rate into consideration, the socks market is projected to experience robust growth during the forecast period in contrast to the apparel industry in general. The rising demand for socks is primarily driven by improving fashion trends and the growing retail sector.
The global socks market is segmented by region into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). The growth of the socks market is attributed to the penetrating organized sector and thriving e-commerce sales in emerging economies such as India, China, and Brazil. Furthermore, increased development and manufacturing of offbeat socks such as fun socks, high end casual socks, and luxury socks are anticipated to augment the demand for socks.
In 2015, Asia Pacific led the socks market and the region is expected to maintain its dominance throughout the forecast period. High demand for socks in this region is attributed to the large population and increasing population growth. Moreover, rising number of retail outlets in the region especially in economies such as China, India, Malaysia, and Singapore are expected to further boost the sales of socks. However, Europe, the fashion power house of the world is expected to lose considerable market share. Declining industrial growth and disposable income fueled by slow economic growth is projected to affect the overall apparel industry. Socks market in North America is expected to witness steady growth, whereas developing economies especially Brazil and Saudi Arabia are expected to drive demand in Rest of the World (RoW).
The global socks market by product type is categorized into specialty socks, athletic socks, trouser socks, women's socks, casual socks, and others. Athletic socks dominated the socks market in 2014, accounting for more than one third of the market share. Athletic socks are also expected to hold the largest market share during the forecast period owing to the diversified applications of athletic socks supported by their economical price.
The global socks market has also been segmented by the materials used for production. The socks market is thus categorized into nylon, cotton, polyester, wool, waterproof breathable membrane, and others. The demand for natural fibers such as cotton and wool is high while manufacturing socks. The demand for natural fiber material for manufacturing socks is relatively high in developed economies owing to sustainability of natural fibers. However, natural fibers are expected to lose considerable market share to synthetic fibers such as nylon and polyester. The demand for socks manufactured from synthetic or manmade fibers are relatively high in developing economies owing to their low price. Waterproof breathable membrane are hybrid materials and used for manufacturing waterproof socks for industrial application or for casual use during the rainy season.
The global socks market has also been segmented based on gender into men’s socks, women’s socks, and kids’ socks. Men’s socks account for the largest share at almost half of the market. Growth of the men’s socks segment is anticipated to be driven by the booming sales of men’s apparel and footwear.
Key players in this market include Adidas Group, Puma SE, Nike, Inc., ASICS Corporation, and Thai Socks Corporation among others. The socks market is highly competitive with the presence of both global and regional manufacturers. The threat of new entrants is also relatively high owing to low manufacturing cost.
Chapter 1 Global Socks Market: Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Scope
1.4 Research Methodology
Chapter 2 Global Socks Market: Executive Summary
2.1 Global Socks Market Revenue, 2014-2023 (US$ Mn)
2.2 Market Snapshot
Chapter 3 Global Socks Market: Market Overview 3.1 Introduction
3.2 Key Trend Analysis
3.3. Market Dynamics:
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Market Opportunities
3.4. Distribution Channel
3.5. Company Market Share, 2014 (%)
Chapter 4 Global Socks Market: Revenue By Type, 2014-2023, (US$ Mn)
4.1.1 Socks Market Revenue Share, By Products
4.2 Global Specialty Socks Market, 2014-2023
4.3. Global Athletic Socks Market, 2014-2023
4.4. Global Trouser Socks Market, 2014-2023
4.5. Global Women’s Socks Market, 2014-2023
4.6. Global Casual Socks Market, 2014-2023
4.7. Global Other Socks Market, 2014-2023
Chapter 5 Global Socks Market: Revenue By Material, 2014-2023, (US$ Mn)
5.1.1 Socks Market Revenue Share, By Material
5.2 Global Nylon Socks Market, 2014-2023
5.3. Global Cotton Socks Market, 2014-2023
5.4. Global Polyester Socks Market, 2014-2023
5.5. Global Wool Market, 2014-2023
5.6. Global Waterproof breathable membrane Socks Market, 2014-2023
5.7. Global Other Socks Market, 2014-2023
Chapter 6 Global Socks Market: Revenue By Gender, 2014-2023, (US$ Mn)
6.1.1 Socks Market Revenue Share, By Gender
6.2 Global Men’s Socks Market, 2014-2023
6.3. Global Women’s Socks Market, 2014-2023
6.4. Global Kid’s Socks Market, 2014-2023
Chapter 7 Global Socks Market: Revenue By Region, 2014-2023, (US$ Mn)
7.1.1 Socks Market Revenue Share, By Region
7.2 North America Socks Market, 2014-2023
7.2.1 North America Socks Market, by Product
7.2.2 North America Socks Market, by Material
7.2.3 North America Socks Market, by Gender
7.2.4 U.S. Socks Market Revenue
7.2.5 Canada Socks Market Revenue
7.2.6 Mexico Socks Market Revenue
7.3 Europe Socks Market, 2014-2023
7.3.1 Europe Socks Market, by Product
7.3.2 Europe Socks Market, by Material
7.3.3 Europe America Socks Market, by Gender
7.3.4 U.K. Socks Market Revenue
7.3.5 Germany Socks Market Revenue
7.3.6 France Socks Market Revenue
7.3.7 Rest of Europe Socks Market Revenue
7.4 Asia Pacific Socks Market, 2014-2023
7.4.1 Asia Pacific Socks Market, by Product
7.4.2 Asia Pacific Socks Market, by Material
7.4.3 Asia Pacific America Socks Market, by Gender
7.4.4 China Socks Market Revenue
7.4.5 India Socks Market Revenue
7.4.6 Japan Socks Market Revenue
7.4.7 Rest of Asia Pacific Socks Market Revenue
7.5 RoW Socks Market, 2014-2023
7.5.1 RoW Socks Market, by Product
7.5.2 RoW Socks Market, by Material
7.5.3 RoW America Socks Market, by Gender
7.5.4 Middle East & Africa Socks Market Revenue
7.5.5 Latin America Socks Market Revenue
7.5.6 Other Countries Socks Market Revenue
Chapter 8 Company Profiles
8.1 Adidas Group
8.2 Nike, Inc.
8.3 Puma SE
8.4 Thai Socks Co., Ltd.
8.5 Cole and Parker Co.
8.6 ASICS Corp.
8.7 Renfro Corporation
8.8 Gainup Industries India Pvt. Ltd.
8.9 V.K. Knitting Industries
8.10 RY International
Socks are commodity products. However, in recent years with the advent of luxury socks and socks for specific application, socks have transformed from commodity items to fashion pieces. Owing to the transformation of this traditional item into a luxury product, the growth of the socks market outpaces the overall growth of the apparel industry. Almost 70% of the men use socks every day. Hence, the robust growth of the men’s apparel industry is expected to be the major driver of the socks industry during the forecast period.
The growth of the socks market is attributed to the rapid expansion of the retail network in developing economies primarily China, Brazil, and India. Increasing population and disposable income in these regions is expected to further drive the retail sector, which in turn is increasing the demand for socks. Asia Pacific accounted for the largest market share for socks. North America and Europe also contributed a considerable market share; however, growth in these regions is stagnant or has reached a stage of maturity, especially in Europe. Asia Pacific and RoW are likely to have better growth potential during the forecast period due to the rise in population, GDP, and favorable government policies to boost the growth of the organized sector in these regions. The major opportunities for the global socks market lies in the improved fashion trends powered by rising income. Application specific customization of socks is creating new opportunities in the market.
Athletic socks are the largest product segment in the socks market. The primary driver for the athletic socks market is its diversified application. Athletic socks are majorly used for sports and gym purposes; however, they can also be used as casual wear with informal footwear. Trouser socks are accessories used along with formal footwear by both men and women. In terms of materials used, cotton accounts for the largest market share at almost one third of the total market. However, the market share of cotton is expected to decline during the forecast period owing to the tough competition from man-made fibers especially nylon and polyester.
This market research study analyzes the socks market globally and provides estimates in terms of revenue (USD Million) from 2015 to 2021. It recognizes the drivers, restraints, and opportunities affecting the industry and analyzes their impact over the forecast period.
The report segments the market on the basis of geography into Europe, North America, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD Million). The report segments the market in terms of product types as specialty socks, athletic socks, trouser socks, women's socks, casual socks, and others. It also segments the market on the basis of materials used for manufacturing socks as nylon, cotton, polyester, wool, waterproof breathable membrane, and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD Million). For better clarity of the consumers’ perspective, the report segments the market by gender into men’s socks, women’s socks, and kids’ socks.
For better understanding of the socks market, we have provided key market trends. Furthermore, the study comprises distribution channel analysis, where distribution networks are benchmarked based on their percentage sales and general attractiveness.
The report provides company market share analysis of various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, and recent developments in the field of socks. Major market participants profiled in this report include Adidas Group, Nike, Inc., Puma SE, Thai Socks Co., Ltd., ASICS Corp., and Renfro Corporation.
Global Socks Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East
Global Socks Market: By Products
- Specialty Socks
- Athletic Socks
- Trouser Socks
- Women's Socks
- Casual Socks
Global Socks Market: By Materials Used
- Waterproof Breathable membrane
Global Socks Market: By Gender
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- North America
- Asia Pacific
- Rest of the World (RoW)